In Texas, there is no corporate income tax. Instead, there is a type of business tax known as the franchise tax. Corporations are complicated business structures to start and maintain, with greater administrative requirements and regulations to adhere to. As a corporation, you are typically ...
Hey Pat, there is no Annual Report in Texas (well, sort of)… there is the Annual Franchise Tax & PIR (Public Information Report). The fee is $0, but you still need to file the report. However, depending on your gross receipts, you may owe franchise tax. This is not all your tax...
Step 3 Add the current sales tax rate to 100 to come up with a new percentage. For example, if the rate is 5.75 percent, the resulting figure would be 105.75 percent. Divide the percentage by 100 before making any further calculations. In this example, the result is 1.0575. We Recommend...
Avoid the need to figure out jargon and new tax laws. Uncover ways to ease your tax burden. Help you steer clear of an IRS audit. “Even with thorough preparation, consulting a tax professional familiar with self-employment tax nuances can be invaluable; they can offer personalized advice and...
Discover the ins and outs of SUTA tax—what it is and its significance. Understand SUTA implications for businesses and how to calculate it.
For example, property shipped from outside of Texas into Texas may be taxed at the rate where the recipient of the goods is located.Luckily, most states use destination sourcing, but some states and districts use mixed sourcing.The first step to sales tax compliance is always to determine ...
If you receive tax form 1099-NEC for services you provide to a client as an independent contractor and the annual payments you receive total $400 or more, you'll need to file your taxes a little differently than a taxpayer who only receives regular emplo
Where to Apply for a Car Title in Texas As you begin to learn how to get car title documentation for your vehicle, the first step you must take is to figure out where this pink slip can be obtained. Whether yours is a used car title, because the vehicle was purchased from a previous...
In the United States, most sales taxes are levied by state and local governments. Knowing the amount of sales tax paid can help you better budget. If you have the total purchase price and the price without tax, you can use a sales tax equation to figure out the sales tax and the ...
If you choose to file your taxes manually, it will go smoother if your tax situation is straightforward, or unchanged, or you have a personal interest in the subject. It can take only a few minutes if you have the right supporting documents on hand. There’s alsolots of free tax advice...